i have been banking with standard bank for about 10 years.
until march this year i was rated as a low risk good customer according to my bank manager...reasons never overdrawn on my account...progressively growing my turnover etc etc.
i have a house financed with them...motor vehicles...bank overdrafts etc etc.
then suddenly at the end of march i made a slip...i transferred R12000.00 from one standard bank account to another standard bank account...to make sure i had adequate money in my bussiness account for end of month debit orders because i wasnt sure if the customer would pay in time.
the catch was i only did the transfer at 7.45 pm...so in the morning as i always do i log to standard bank to make sure all is well...i was pleased to see the customer had paid and the money i transfered also reflected and the debit orders had all gone through.that was the 1 april 2009
on the 2 april 2009 i logged on in the morning bank account looked great...
on the 3 april 2009 i logged on i noticed a returned item and of course a R115.00 fee for unpaid item.
so i contacted the bank to find out what was going on...i was told that because i had transfered the money after 7 pm it did not reflect on my account nor did the customers payment...so my account went overdrawn by R136.00 so they returned one debit order at midnight when the debit orders ran.
so i asked but this is bad for my account blah blah...they told me because i was such a good customer and had never had a problem with my account it was a minor issue.
well thats what i also thought...7 days later i received a letter in the post to advise me that due to my "bad conduct of my account" and the economic situation in the world at the moment they would have to withdraw my cheque clearance authourity...in other words when i deposit a customers cheque i now have to wait 7 days for clearance.
then they RD a cheque for R224.00 because of the same night story not enough money at midnight because i wasnt sure when the cheque would be deposted... the person i had issued it to had not deposted it after 2 weeks...so i thought i better just transfer money in case...it went through that night.
so now i am getting a little p#$%d off with them and have decided to more to FNB and increase my bond by R100 000 so i can settle all my debit and only pay the bond...i got a call from FNB who gave me the bad news...i am now rated as a high risk so they cannot help me.
and standard bank have notified me that as of this month they will be automatically reducing my overdraft by R2000.00 a month until it is paid up...thank goodness...less fees and bank chargers an interest.
it is amazing how when you have lots they want to give you more and more and more but if they notice a decline in turnover they are the first to take everything away.